Depreciation on right to collect toll tax on road developed by ...

Tribunal Confirms Toll Collection as Intangible Asset, Grants Depreciation, Adjusts Deduction Under Income Tax Act.

February 8, 2024

Case Laws Income Tax AT

Depreciation on right to collect toll tax on road developed by the Assessee - The Tribunal recognized the right to collect toll on roads developed by the appellant as a commercial right, an intangible asset under Section 32(1)(ii) of the Act. - Accordingly, AO directed to grant depreciation on the toll collection right as an intangible asset and to adjust the deduction under Section 80IA(4) based on this allowance.

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Depreciation on right to collect toll tax on road developed by ...

Tribunal Confirms Toll Collection as Intangible Asset, Grants Depreciation, Adjusts Deduction Under Income Tax Act.

February 8, 2024

Case Laws Income Tax AT

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